Krugman v Steve Keen
NY Times columnist Paul Krugman has just spanked UWS economist Steve Keen – though not justifiably. Seems Prof K went off half-cocked and didn’t even read the entire post from our UWS controversialist. Krugman’s post follows from this and this. It all started from Keen posting this.
They’ve been having a toe-to-toe over assumptions and economic model structures – New Keynesian and New Classical, for the economically literate – and as to be expected from both their styles, it’s been a little intemperate. Worth reading the comments in the first link at the NY Times.
If you want the 30second intro to the macroeconomic schools, I am embarrassed to say: try Wikipedia on New Keynesianism and follow the related macroeconomic links at the bottom of the entry. Good enough for the non-technical.
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Just How Expensive is Bottled Water?
In 2014, for the cost of one bottle of Mt Franklin from Woolworths, you can refill your bottle nearly 1900 times, and hydrate yourself for 5 years 73 days. -
All The Wrong Innovation
Politicians and academics love the “test tube, circuits and buildings” view of innovation. You know, innovation that involves universities, laboratories, factories and photo opportunities. But innovation is just change. It’s doing something different in such a way that it develops a new product that meets someone’s needs, or delivers an existing product using fewer resources. […]